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Category: Economics

  • MIL-OSI Economics: Global travel and tourism deal activity down by 11% YoY during Q1-Q3 2024, finds GlobalData

    Source: GlobalData

    Global travel and tourism deal activity down by 11% YoY during Q1-Q3 2024, finds GlobalData

    Posted in Business Fundamentals

    A total of 519 deals (comprising mergers and acquisitions (M&A), private equity, and venture financing deals) were announced in the travel and tourism sector globally during January to September (Q1-Q3) 2024, which was a year-on-year (YoY) decline of 11% over 583 deals announced during the same period in the previous year, according to GlobalData, a leading data and analytics company.

    An analysis of GlobalData’s Deals Database also revealed that the volume of M&A deals decreased by 6.8% during Q1-Q3 2024 compared to the same period in 2023, while the number of venture financing deals was down by 25.2% YoY. Meanwhile, private equity deals volume remained unchanged.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline in global travel and tourism deal activity was mostly driven by a significant fall  in deals volume in some regions and countries, while deal activity remained relatively better for some other regions and countries. In fact, some regions and countries even showcased double-digit growth in deal volume, which seems to be an indication of improving deal-making sentiments.”

    North America, Asia-Pacific, and South and Central American regions experienced decline in deal volume by 36%, 7.7%, and 20% during Q1-Q3 2024 compared to Q1-Q3 2023. In contrast, Europe registered 10.3% YoY improvement in deal activity. Meanwhile, deal volume for the Middle East and African region mostly remained at the same level.

    Similarly, the trend across different countries also remained a mixed bag. The US, China, and France witnessed YoY decline in deal volume by 36.3%, 38.5%, and 42.9%, respectively, during Q1-Q3 2024, whereas India and Japan experienced respective deal volume improve by 24.3% and 38.1% YoY. Meanwhile, deal volume for the UK, South Korea, and Australia mostly remained at the same level.

    Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain

    MIL OSI Economics –

  • MIL-OSI Economics: Huawei Launches Fully-Upgraded Xinghe Intelligent Network Offerings for Markets Outside China to Accelerate Industrial Digitalization and Intelligence Oct 16, 2024

    Source: Huawei

    Headline: Huawei Launches Fully-Upgraded Xinghe Intelligent Network Offerings for Markets Outside China to Accelerate Industrial Digitalization and Intelligence
    Oct 16, 2024

    [Dubai, UAE, October 16, 2024] During GITEX GLOBAL 2024, Huawei announced its fully-upgraded Xinghe Intelligent Network Solution and more than 20 all-new AI network products for markets outside China at the IP Club Carnival themed “Xinghe Intelligent Network, Accelerate Industrial Digitalization and Intelligence”. These purpose-built offerings help enterprise customers of all sizes to accelerate their digital and intelligent transformation.
    In the opening address, Leon Wang, President of Huawei Data Communication Product Line, Huawei, said, “Nowadays, AI is becoming a key driver of digital economic growth, bringing huge opportunities for new value creation. The global digital and intelligent wave drives networks to further innovate and take on four unique features, namely, providing ubiquitous connections, unleashing computing power potential, transmitting massive data efficiently and securely, and assuring application experience. Let’s explore how to accelerate innovation and work together to advance intelligence.”
    Leon Wang, President of Data Communication Product Line, Huawei, delivering a speech

    Yury Yin, Vice President of Data Communication Product Line, Huawei, said, “All industries ramp up intelligent transformation, driving network evolution towards the AI ecosystem. As such, Huawei Xinghe Intelligent Network focuses on intelligent innovation and lays a next-generation foundation featuring optimal application experience assurance, automatic precise traffic scheduling, ultra-high resilience and stability, and high-security ubiquitous protection. All of these help enterprises worldwide to seize new development opportunities and amplify industrial intelligence.”
    Yury Yin, Vice President of Data Communication Product Line, Huawei, giving a speech

    Leon Wang, President of Data Communication Product Line, Huawei; Vincent Liu, President of Global Enterprise Network Marketing & Solution Sales Department, Huawei, Charles Shen, Vice President of Middle East & Central Asia ICT Marketing & Solution Sales Department, Huawei, and Naveed Tahir, CTO of Pakistan Higher Education Commission, then jointly launched Huawei’s fully-graded Xinghe Intelligent Network Solution and all-new products.
    Featured offerings include:
    Xinghe Intelligent Campus: Huawei’s full range of Wi-Fi 7 APs enable no rate limiting for terminals and full wireless coverage without blind spots on the campus network. Furthermore, AI-enabled, experience-centric campus network construction ensures zero freezing for audio and video applications and zero degradation on services.
    Xinghe Intelligent Fabric: The network digital map enables converged management of network and security devices and accelerates service rollout on the current day. Moreover, AI algorithms are used to model the quality of application experience, proactively identify deteriorating application experience, and demarcate faults in minutes. Moreover, superfast switchovers at three levels (link, device, and network levels), unique in the industry, ensure ultra-reliable and ultra-stable network services.
    Xinghe Intelligent WAN: Intelligent technologies are introduced to accurately identify applications, intelligently schedule millions of flows, and precisely optimize experience. Beyond this, intelligent O&M agents draw on the massive historical experience database to proactively analyze and predict potential network risks and automatically rectify 90% faults in minutes.
    Xinghe Intelligent Network Security: AI is integrated into network security detection. Specifically, 18 small AI models are used to identify threats accurately and quickly, achieving as high as 91% accuracy in detecting unknown threats. Additionally, AI models are embedded into security devices to achieve AI inference in microseconds, ensuring robust security and ultimate experience.
    Industry-specific solutions: Huawei’s tailor-made solutions are ideal for diverse industries, such as public services, finance, energy, education, transportation, manufacturing, and healthcare, to meet their differentiated needs and stride towards the intelligent era.
    As all industries accelerate their digital and intelligent transformation, Huawei and the IEEE UAE Section jointly kicked off the “Imagine Wi-Fi 7” program. As announced at this IP Club Carnival, the “Imagine Wi-Fi 7” Program (Season 2) was successfully concluded. Prof. Hussain Al Ahmad, Chair of the IEEE UAE Section, Jason He, President of Huawei Global Enterprise Data Communication Marketing & Solution Sales Department, and Shawn Zhao, President of the Campus Network Domain at Huawei Data Communication Product Line, presented awards to outstanding winners.
    Another notable announcement was the “Discover Huawei SASE” Program for the Middle East and Central Asia Region. Moreover, industry pioneers from the security sector shared their first experience with Huawei Xinghe Intelligent SASE Solution. While experiencing real-world use cases, they also earned plenty of IP Club bonus points.
    Looking ahead, Huawei will continue to innovate and help customers build leading network infrastructure needed to accelerate their digital and intelligent journey. Doing so will help customers around the world stride into the digital–intelligence era and reap greater business value.

    MIL OSI Economics –

  • MIL-OSI Economics: Global Financial Stability Report, October 2024: analytical chapters available now, main chapter on October 22

    Source: International Monetary Fund

    Chapter 3: Advances in Artificial Intelligence: Implications for Capital Market Activities

    Chapter 3 assesses recent developments in AI and Generative AI and their implications for capital markets, using new analytical work and results from a global outreach to market participants and regulators. Evidence from labor markets and patent filings suggests that adoption of AI in capital markets is likely to increase significantly in the near future, and AI could cause large changes in market structure through the greater and more powerful use of algorithmic trading and novel trading and investment strategies. AI may reduce some financial stability risks by enabling superior risk management, deepening market liquidity, and improving market monitoring by both participants and regulators. At the same time, new risks may arise, including increased market speed and volatility under stress, more opacity and monitoring challenges of non-bank financial institutions, increased operational risks as a result of reliance on a few key third-party AI-service providers, and increased cyber and market manipulation risks. Many of these risks are addressed by existing regulatory frameworks, but important new and unforeseen developments may arise. To ensure relevant authorities are prepared for these potentially transformative changes, they should consider additional policy responses.

    MIL OSI Economics –

  • MIL-OSI Economics: World Economic Outlook, October 2024: analytical chapters available now, main chapter on October 22

    Source: International Monetary Fund

    Chapter 3: Understanding the Social Acceptability of Structural Reforms

    Structural reforms are urgently needed as the world grapples with low growth, demographic shifts, and challenges related to the green and technological transitions. However, reform efforts have waned in recent years amid rising public resistance. Chapter 3 delves into the social acceptability of structural reforms, exploring the drivers of public attitudes and the effectiveness of various strategies to increase support. It finds that resistance often stems from perceptions, misinformation, and trust deficits rather than economic self-interest. The chapter shows that information strategies that raise awareness of the need for reform and correct misperceptions about how policies work can boost support. Effective strategies must be backed by strong institutional frameworks that foster trust and a two-way dialogue among stakeholders and the public. Expanding policymaking toolkits to incorporate citizens’ views can lead to greater social acceptance and successful implementation of reforms.

    MIL OSI Economics –

  • MIL-OSI Economics: Three cybersecurity tips for IT professionals in education

    Source: Microsoft

    Headline: Three cybersecurity tips for IT professionals in education

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    MIL OSI Economics –

  • MIL-OSI Economics: For the first time in F1 history, a video game will be fully integrated with an F1 team

    Source: Microsoft

    Headline: For the first time in F1 history, a video game will be fully integrated with an F1 team

    Bringing Indiana Jones and the Great Circle theming to some of the fastest cars on the planet marks the next chapter in Xbox and Alpine’s official partnership, showcasing the rich storytelling both brands are known for. The car liveries and race suits worn by drivers Pierre Gasly and Esteban Ocon feature intricate details inspired by the game, including a map of the location’s players will explore, along with other branded elements from the games beautiful Collector’s Edition. The striking new car designs are revealed today, with their in-person debut set for Thursday, October 17. F1 and gaming fans alike can catch both cars in action at the United States F1 Grand Prix in Austin, Texas, from October 18 to 20. 

    “Working with the Xbox team to bring alive the incredible Indiana Jones and the Great Circle livery for the United States Grand Prix has been fantastic,” says Oliver Oakes, BWT Alpine Formula One Team, Team Principal. “The new look will be right at home in the Austin setting this weekend. In the past year, our partnership with Xbox has reached new heights and this is our biggest activation yet. There’s even more to come and I’m looking forward to getting my hands on a copy of the game when it comes out.” 

    We began teasing this collaboration with an epic real-life road trip. It all started in Los Angeles at a twilight-lit shipyard, where an Indiana Jones and the Great Circle-themed semi-truck set off, carrying a mysterious crate. Along its journey, the truck made stops at iconic U.S. landmarks like Las Vegas, Hoover Dam, Bonneville Salt Flats, and White Sands National Park, before arriving, shrouded in secrecy, at the Circuit of the Americas during a breathtaking sunset. There, the crate was finally opened to reveal its special cargo. To relive this incredible journey, visit the social channels of BWT Alpine F1 team, Bethesda, MachineGames, and Circuit of The Americas (COTA). 

    Indiana Jones and the Great Circle is developed by MachineGames and Bethesda Softworks, in collaboration with Lucasfilm Games, and launches on December 9 on Xbox Series consoles, Xbox Game Pass and PC – with early access starting on December 6. The game is a first-person, single-player adventure set between the events of ‘Indiana Jones and the Raiders of the Lost Ark’ and ‘Indiana Jones and The Last Crusade’. In the year 1937, sinister forces are scouring the globe for the secret to an ancient power connected to the mysterious Great Circle, and only one person can beat them to it – Indiana Jones. Blending cinematic set-pieces, puzzle-solving, and hand-to-hand combat, players will embark on an authentic Indiana Jones experience that spans the world during the height of the legendary archaeologist’s career. 

    Pre-orders for Indiana Jones and the Great Circle are now open for Xbox Series X|S consoles and PC, with wish listing also available on PlayStation. Those who purchase the Premium Edition, Premium Upgrade or Collector’s Edition of the game will receive 3 days of early access, beginning December 6. More information on pre-orders can be found here. Stay tuned for more details at https://indianajones.bethesda.net/

    MIL OSI Economics –

  • MIL-OSI Economics: Narrowing the Digital Divide: Households with broadband, laptops and desktops rising

    Source: Microsoft

    Headline: Narrowing the Digital Divide: Households with broadband, laptops and desktops rising

    Today, we’re launching a refresh of the Microsoft Digital Equity Data Dashboard with current data from the FCC, the United States Census Bureau, Code.org, Broadband Now, and Microsoft to help federal, state, and local policymakers gain a better understanding of the factors contributing to the digital divide in communities across the United States. Originally launched in 2022 as part of our Airband Initiative, the dashboard provides critical data to help understand broadband gaps at the local level, allowing these decision makers to anchor their policies and programs in data and maximize investments in areas of highest need.  

    Today’s update allows tracking of historical broadband data to analyze trends and progress being made as a result of government and private sector investments. This includes the new data from the dashboard, which shows that all states, including Puerto Rico and the District of Columbia, saw an increase in the number of households with broadband connections as well as an increase in the number of households with laptops or desktops. The greatest changes were in households earning less than $20,000. These households saw an average increase of over 10.8 percentage points in internet connectivity compared to previous metrics, meaning there are nearly 325,000 more households connected in this group. 

    We’ve long held the belief in the value of data, and this dashboard refresh is the latest step in our ongoing journey to help close the digital divide around the world. 

    Bridging the Rural Broadband Gap in the United States 

    In 2017, we launched the Microsoft Airband Initiative with a clear mission: to bridge the significant rural broadband gap in the United States. That year, government data showed that at least 23.4 million people across the United States did not have access to reliable high-speed internet, and this lack of access created significant barriers to education, healthcare, and economic opportunities. At the same time, it’s been shown that increasing access and usage of broadband in rural areas leads to higher property values, increased job and population growth, increased entrepreneurship, and lower unemployment rates. This stark reality illustrated by this data highlighted the urgent need for action to bridge the digital divide.  

    We set out to help solve the problem by bringing private sector investment and innovative technologies together with advocacy for regulatory support and financial frameworks to increase connectivity. Over the years, we have tried different approaches to bridging the digital divide, and we’ve learned a lot. We initially focused on TV White Spaces, believing this unique technology would extend reliable and affordable broadband to rural areas. As time went on, we determined that to make a tangible impact in rural communities, we couldn’t rely on specific technology, so we shifted to a technology neutral approach. Today, our partners are leveraging fiber, fixed wireless, satellite, and other disruptive technologies to drive broad networks deeper into rural areas. As a result, our partners have extended coverage to over 7.4 million people in rural communities across 41 states and territories in the United States.   

    But technology alone was not a solution. High costs, the absence of new and alternative technologies, and market and regulatory conditions all hampered efforts. The economic impact was substantial, not only hindering individual progress but also stifling the overall development of rural areas. So, we also used our corporate voice and joined forces with others to directly advocate for Congress to deploy targeted funding to combat the digital divide.  

    Targeted Funding to Combat the Digital Divide 

    In the U.S., none of the progress we’ve seen would be possible, without the vision of the U.S. Congress to proactively and significantly invest in broadband infrastructure programs. Our experiences since 2017 have made it clear that these government investments are necessary to drive deep impact. Bipartisan investments in digital infrastructure and inclusion through the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the American Rescue Plan Act (ARPA), and the Infrastructure Investment and Jobs Act (IIJA) were a huge step forward in our journey to close the digital divide in the United States.  

    As a result of these government investments and public private partnerships, our internet service provider partners in the U.S. have received more than $725 million in government infrastructure funding awards to accelerate network expansion and drive broadband adoption across the country, with approximately 80% going to rural communities.  

    An example includes Microsoft partner, Nextlink Internet, which is leveraging government investment and partnership to bring meaningful connectivity to rural communities in the Midwest, Southwest, and Southeast regions of the United States. Federal infrastructure funding enabled Nextlink to extend their seven-state footprint to 11 states in total: Indiana, Illinois, Iowa, Kansas, Louisiana, Minnesota, Nebraska, Oklahoma, Texas, Wisconsin, and Wyoming.   

    Looking Forward Globally with a Clear Vision 

    Outside of the United States, our global partnerships have brought coverage to nearly 100 million previously unserved and underserved people. Internationally, we’re also seeing success from similar models of participating in government infrastructure programs, with the U.S. government leading the way. This includes significant investments and leadership from the United States Agency for International Development (USAID) via the Digital Invest program and the Women in the Digital Economy Fund (Wi-DEF), as well as the United States Trade and Development Agency’s (USTDA) Digital Transformation with Africa initiative.  

    These partnerships have also enabled digital infrastructure and off-grid energy in unserved and underserved communities around the world. In Nigeria, for instance, providers like Tizeti are leveraging government investments to bring connectivity to schools, health clinics, and community anchor institutions. And communities are experiencing improved outcomes in education and healthcare as a result. If connectivity alone has enabled these outcomes, imagine what additional innovation AI could unlock. 

    But there are still 2.6 billion people who remain offline. Limited internet can exacerbate economic inequalities and inhibit access to social services, civic activities, and online learning resources. In places where we’re using AI to map global populations in real-time, we can provide early warnings that allow communities to better plan disaster recovery during times of crisis. Communities that remain offline do not get these early warnings and cannot act on them. As AI becomes more prevalent, communities that remain offline will not be able to fully access the benefits of this new technology. 

    To continue momentum, we are looking to the lessons we learned in the U.S. We must scale innovative technologies, expand connectivity and energy access, and leverage strategic partnerships. Governments, financial institutions, philanthropic institutions, and the private sector must come together to address critical financing barriers, invest in development finance, and expand digital infrastructure. 

    We’ve committed to reaching 250 million people with meaningful connectivity by the end of next year. Today, we’re calling for continued support and collaboration from all sectors to ensure no one is left behind. We call on all stakeholders to join us in this mission. 

    • Governments must create enabling regulatory environments that prioritize funding for digital infrastructure and support quick and efficient allocation of funding by federal, state, and local entities. 
    • The private sector must invest in innovative technologies and business models. 
    • Philanthropic organizations must continue to advocate for digital inclusion and develop initiatives anchored in the local community. 

    The journey to close the digital divide is a long one. Building out infrastructure takes time. It’ll take time for us to see some of the direct results of this work, but there is room for optimism. We are extremely grateful for the leadership and vision of the United States government, which is laying a blueprint for other countries to follow, as well as state and local leaders working to ensure these programs are successful. We encourage all policymakers to proceed efficiently so the benefits of these investments reach local communities sooner rather than later.  

    With continued collaboration and commitment, we can use the power of data, technology, and partnership to achieve our ambitious goals. We’re dedicated to making a lasting impact, and we are excited about the future. Let’s come together to bring the power of digital connectivity and transformation to people around the world. 

    Tags: Airband initiative, broadband, broadband access, connectivity, digital access, digital divide, digital inequity, Digital Inequity Dashboard, Internet access, rural broadband

    MIL OSI Economics –

  • MIL-OSI Economics: Minutes of the Monetary Policy Committee meeting of 30 September and 1 October 2024

    Source: Central Bank of Iceland

    In accordance with the Monetary Policy Committee Rules of Procedure, the minutes of the Committee’s most recent meeting have been published on the Bank’s website. The minutes are published two weeks after the announcement of the Committee‘s decision.

    MIL OSI Economics –

  • MIL-OSI Economics: Kazakhstan’s Resource Economy: Diversification Through Global Value Chains

    Source: Asia Development Bank

    The report details how mining and metals made up over 80% of Kazakhstan’s gross exports in 2021 and explains the need for the country to develop secondary and tertiary sectors. It outlines the steps Kazakhstan could take to invest in infrastructure and human capital, reform its financial systems, and finetune trade agreements to help boost its global competitiveness and reduce its exposure to external shocks.

    MIL OSI Economics –

  • MIL-OSI Economics: Money Market Operations as on October 16, 2024

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,40,974.48 6.30 5.00-6.50
         I. Call Money 8,755.18 6.44 5.10-6.50
         II. Triparty Repo 3,90,913.55 6.28 5.90-6.43
         III. Market Repo 1,40,357.75 6.33 5.00-6.50
         IV. Repo in Corporate Bond 948.00 6.45 6.40-6.50
    B. Term Segment      
         I. Notice Money** 1,906.22 6.43 5.85-6.50
         II. Term Money@@ 645.00 – 6.65-6.90
         III. Triparty Repo 210.00 6.45 6.40-6.45
         IV. Market Repo 1,637.29 6.56 6.49-6.60
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Wed, 16/10/2024 1 Thu, 17/10/2024 38,133.00 6.49
    3. MSF# Wed, 16/10/2024 1 Thu, 17/10/2024 5,872.00 6.75
    4. SDFΔ# Wed, 16/10/2024 1 Thu, 17/10/2024 73,858.00 6.25
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -1,06,119.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo Fri, 04/10/2024 14 Fri, 18/10/2024 44,275.00 6.49
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo Tue, 15/10/2024 2 Thu, 17/10/2024 26,060.00 6.49
      Mon, 14/10/2024 4 Fri, 18/10/2024 24,070.00 6.49
    3. MSF#          
    4. SDFΔ#          
    5. On Tap Targeted Long Term Repo Operations€ Mon, 15/11/2021 1095 Thu, 14/11/2024 250.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 2,275.00 4.00
    6. Special Long-Term Repo Operations (SLTRO) for Small Finance Banks (SFBs)£ Mon, 15/11/2021 1095 Thu, 14/11/2024 105.00 4.00
    Mon, 22/11/2021 1095 Thu, 21/11/2024 100.00 4.00
    Mon, 29/11/2021 1095 Thu, 28/11/2024 305.00 4.00
    Mon, 13/12/2021 1095 Thu, 12/12/2024 150.00 4.00
    Mon, 20/12/2021 1095 Thu, 19/12/2024 100.00 4.00
    Mon, 27/12/2021 1095 Thu, 26/12/2024 255.00 4.00
    D. Standing Liquidity Facility (SLF) Availed from RBI$       7,222.87  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     -83,642.13  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,89,761.13  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on October 16, 2024 9,76,272.62  
         (ii) Average daily cash reserve requirement for the fortnight ending October 18, 2024 10,01,756.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ October 16, 2024 0.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on September 20, 2024 4,18,318.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    € As per the Press Release No. 2020-2021/520 dated October 21, 2020, Press Release No. 2020-2021/763 dated December 11, 2020, Press Release No. 2020-2021/1057 dated February 05, 2021 and Press Release No. 2021-2022/695 dated August 13, 2021.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    £ As per the Press Release No. 2021-2022/181 dated May 07, 2021 and Press Release No. 2021-2022/1023 dated October 11, 2021.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2024-2025/1312

    MIL OSI Economics –

  • MIL-OSI Economics: Tripleplay and quadrupleplay to drive overall multiplay services market in South Korea during 2023-2028, forecasts GlobalData

    Source: GlobalData

    Tripleplay and quadrupleplay to drive overall multiplay services market in South Korea during 2023-2028, forecasts GlobalData

    Posted in Technology

    South Korea’s multiplay services market is set for steady growth between 2023 and 2028, driven primarily by tripleplay and quadrupleplay bundles. Increased demand for high-speed fiber broadband and value-added services like IPTV and OTT video will boost household spending on these packages. While doubleplay remains dominant, quadrupleplay is projected to see the fastest growth, supported by fixed-mobile convergence adoption, says GlobalData, a leading data and analytics company.

    GlobalData’s South Korea Multiplay Forecast Model (Q1 2024) reveals that South Korea’s multiplay service revenue is expected to see a gradual yet consistent increase at a compound annual growth rate (CAGR) of 1% from $6.2 billion in 2023 to $6.6 billion in 2028.

    The aggregate increase in total multiplay households will be supported by operators discounted multiplay bundles centered on high-speed fiber broadband services. The growth in multiplay households will however remain tepid i.e., at a CAGR of 0.3% over the forecast period, given the growing popularity of OTT video services that are often bundled with fiber broadband plans.

    Hrushikesh Mahananda, Telecom Analyst at GlobalData, says: “The average monthly household spend on overall multiplay bundles is forecast to increase from $27.09 in 2023 to $28.02 in 2028, driven by the growing adoption of relatively high-cost tripleplay and quadrupleplay services and service bundles offerings inclusive of IPTV services and value-added OTT services.”

    Doubleplay services will account for majority of the multiplay households through 2028. Quadrupleplay services, on the other hand, are estimated to increase at the fastest rate over the forecast period and are expected to garner about 23% share of the total multiplay households by the end of 2028, owing to the growth in fixed mobile convergence household penetration.

    Mahananda concludes: “The three major operators KT Corp, SK Telecom, and LG Group are offering discounts on fixed broadband and multiplay plans with a goal to bring down churn and increase revenue-generating units (RGUs). KT Corp will lead the overall multiplay services market through 2028, given its strong subscriber base in triple-play and quad-play services.”

    MIL OSI Economics –

  • MIL-OSI Economics: Consumer sustainability demands drive Thailand’s food and beverage companies to shift to circular packaging, says GlobalData

    Source: GlobalData

    Consumer sustainability demands drive Thailand’s food and beverage companies to shift to circular packaging, says GlobalData

    Posted in Consumer

    Thailand’s food and beverage (F&B) industry is undergoing a significant shift towards sustainability as regulatory pressures and consumer demands for eco-friendly packaging continue to rise. With sustainability increasingly at the forefront of business strategies, industry leaders like Tetra Pak Thailand are taking significant steps to drive the adoption of circular packaging solutions. Underlining the trend, 90% of respondents in a recent survey stated that they choose sustainable feature as essential/nice to have when deciding to make a purchase*, says GlobalData, a leading data and analytics company.

    In response to growing environmental concerns, the Thai government has implemented stronger regulations targeting waste reduction and promoting circularity. The Second National Action Plan on Plastic Waste (2022-2027) and the Sustainable Packaging Act are part of the government’s broader effort to tackle plastic waste and improve recycling rates. These regulations compel F&B manufacturers to adopt Extended Producer Responsibility (EPR) frameworks, ensuring that packaging is responsibly managed from production through disposal.

    Kakarlapudi Karthik Varma, Consumer Analyst at GlobalData, comments: “With sustainability becoming a priority for consumers, brands are adapting to meet these expectations. F&B manufacturers are increasingly turning to renewable and recyclable materials as they seek to meet both regulatory requirements and consumer expectations.

    “Tetra Pak Thailand has been at the forefront of circular packaging innovations, offering solutions that not only meet regulatory requirements but also align with consumer preferences for eco-friendly packaging. Other manufacturers have also taken initiatives, such as Kao Industrial Thailand’s partnership with SCG Chemicals Co., Ltd (SCGC) and Dow Thailand Group to create recyclable, low-carbon packaging.”

    Francis Gabriel Godad, Consumer Business Development Manager, GlobalData India, adds: “Tetra Pak’s four-step approach—focused on resource conservation, energy recovery, operational efficiency, and environmentally neutral production processes—highlights the company’s commitment to advancing sustainability in the F&B industry. Their packaging materials, including FSC-certified paperboard, contribute to the shift towards a circular economy by reducing reliance on fossil fuels and minimizing environmental impact.”

    Varma concludes: “With the introduction of the Sustainable Packaging Act and the continuous pressure from consumers, Thailand’s packaging industry is at a turning point. Collaboration among businesses, government entities, and industry leaders like Tetra Pak is crucial in creating a future where packaging is no longer considered waste but a valuable resource within the circular economy.

    “The shift towards 100% recyclable and renewable packaging is on the horizon, and stakeholders in the F&B sector must proactively stay ahead of regulatory trends and consumer demands.”

    *GlobalData 2024 Q2 Consumer Survey – Thailand was conducted with 502 participants

    MIL OSI Economics –

  • MIL-OSI Economics: Indigenous nuclear-powered attack submarines to enhance India’s maritime security in IOR, says GlobalData

    Source: GlobalData

    Indigenous nuclear-powered attack submarines to enhance India’s maritime security in IOR, says GlobalData

    Posted in Aerospace, Defense & Security

    In a significant move towards bolstering maritime security, India’s Cabinet Committee on Security (CCS) has recently approved the indigenous construction of two Project 75-Alpha nuclear attack submarines (SSNs). The procurement of indigenous nuclear-powered submarines capable of undertaking hunter-killer operations positions the Indian Navy as a formidable force capable of conducting anti-submarine warfare in the Indian Ocean Region (IOR), says GlobalData, a leading data and analytics company.

    GlobalData’s report, “Global Submarine Market Analysis and Forecast to 2033”, reveals that India will be spending about $31.6 billion on procuring various types of submarines over the next 10 years. Out of which, 30.5% will be directed towards the procurement of Project 75-Alpha SSNs during the same period. India is expected to procure a total of six SSNs under this program at an estimated value of $17 billion.

    Udayini Aakunoor, Aerospace & Defense Analyst at GlobalData, comments: “The acquisition of SSNs is a strategic move by India to modernize its Navy and tackle regional security challenges. To be built at the Ship Building Centre located in Vishakhapatnam with participation from the domestic private sector, they are expected to boost the country’s autonomy in complex naval shipbuilding.

    “Designed to operate at greater depths and for longer durations than conventional submarines, the SSNs will enhance the Indian Navy’s ability to perform multiple roles, ranging from offensive operations to intelligence gathering, while also enabling it to maintain a continuous and discreet presence in strategically important maritime chokepoints, such as the Strait of Malacca, the Gulf of Aden, and the Persian Gulf.”

    With their unlimited underwater endurance and offensive power, the SSNs will enable India to project power in the Indo-Pacific region while supporting self-reliant advancements in critical defense technologies. These advanced SSNs, coupled with the Indian Navy’s P-8I maritime patrol aircraft, would enhance the service’s ability to detect and track Chinese submarines operating in the IOR.

    Aakunoor concludes: “India will also likely use these Project 75-Alpha SSNs to protect its in-service Arihant-class nuclear-powered ballistic missile submarine (SSBN), which serves as the sea-based leg of the country’s nuclear triad. This, in turn, will enhance India’s second-strike capability as the survivability of its fleet of Arihant-class SSBNs will increase significantly owing to the protection provided by the Project 75-Alpha SSNs.”

    MIL OSI Economics –

  • MIL-OSI Economics: Sustainability Data Book 2024: Update on Key Points of Medium-Term Environmental Action Plan GREEN IMPACT PLAN 2024

    Source: Panasonic

    Headline: Sustainability Data Book 2024: Update on Key Points of Medium-Term Environmental Action Plan GREEN IMPACT PLAN 2024

    Panasonic Group announced its Sustainability Data Book 2024 on August 30. This fact sheet provides an overview of the key progress of GREEN IMPACT PLAN 2024 and our efforts to solve environmental issues in an easy-to-understand infographic-format. For more detailed information, please refer to the full Sustainability Data Book 2024.

    MIL OSI Economics –

  • MIL-OSI Economics: The Wall Elevates Art and Technology at Venice Biennale

    Source: Samsung

    Samsung Electronics added a new dimension to cinematic storytelling with The Wall Micro LED display at this year’s world famous Venice Biennale Art Festival.
     
    At the festival, The Wall Micro LED is showcasing director Marco Perego’s latest film Dovecote, starring Zoë Saldaña. Dovecote is a poignant film about a woman’s emotional journey as she leaves the prison and the deep bonds she formed with fellow inmates.
     
    The screenings, scheduled until the close of the festival on November 24, take place in a unique setting at the Vatican’s official pavilion located in the Giudecca women’s prison. This venue adds layers of emotional depth to the film as it is also where the piece was filmed, heightening the themes of freedom, belonging and resilience.
     
    ▲ The Giudecca Women’s Prison, the filming location and venue for the screening of Dovecote
     
     
    Unparalleled Visual Artistry With The Wall
    Renowned for its celebration of artistic expression, the Venice Biennale became a stage for technological innovation with Samsung Electronics’ involvement this year. Perego’s Dovecote demanded a display capable of capturing its emotional intricacies, including the strong bonds formed between the inmates and the isolation they endure. The superior color accuracy and contrast of The Wall made it the ideal choice.
     
    
     
    The collaboration between Perego and Samsung was a natural fit. Samsung Electronics provided advanced display technology and technical support from installation to execution, ensuring the visual depth intended by the director.
     
     
    Groundbreaking Micro LED Technology Elevates Visual Art to New Heights
    Samsung Electronics’ cutting-edge Micro LED technology was selected to showcase Perego’s Dovecote. The Wall’s 1.2mm pixel pitch IWA model was chosen for its ability to immerse viewers in the film’s delicate visual nuances.
     
    ▲ Film director Marco Perego viewing a screening of Dovecote
     
    With Samsung’s The Wall, Perego was able to realize his artistic vision, presenting his film with the superior display needed to convey the precise hues and contrasts achieved during the color grading process. The immersive experience enabled by Samsung’s display technology was key to the film’s success in captivating artists, curators and art enthusiasts worldwide.
     
    “The most important thing after you finish a film is how you show this film,” said Perego, following the premiere on August 17. “Thanks to the collaboration with Samsung, we were capable of really bringing out the right color and the right contrast to achieve the emotional impact I envisioned for the film.”
     
    The Wall’s Micro LED technology delivers deep blacks and amazing contrast, intensifying the emotional weight of each scene while fully immersing viewers in the film’s themes and the performances of Saldaña and the cast.
     
    ▲ Samsung Electronics team alongside director Marco Perego and actor Zoë Saldaña
     
    This collaboration stemmed from Samsung’s long-standing relationships with Hollywood industry professionals, including previous work with the Cinema LED Onyx. Originally shot at 23.98 frames per second in cinema color spaces, the teams worked together to seamlessly integrate Dovecote‘s cinematic elements with The Wall’s advanced display technology, pushing the boundaries of traditional screens.
     
    “The Wall’s Micro LED technology resulted in a collaboration that delivered a screening with all of the elements great for the art industry,” said Paul Maloney, Head of Hardware Tech Consulting, Europe Display Office, Samsung Electronics. “For Samsung, it has been an honor to have supported Marco Perego’s film and achieve the artistic vision he had imagined.”
     
    ▲ Director Marco Perego with Paul Maloney, Head of Hardware Tech Consulting, Europe Display Office, Samsung Electronics during the Dovecote screening
     
    “We are incredibly proud to contribute to this unique project,” said Ben Holmes, Director of Display Marketing, Europe Display Office, Samsung Electronics. “The Wall’s superior picture quality, coupled with its ability to bring out the minute details and vibrant colors, perfectly aligned with Marco Perego’s vision of creating an immersive experience to draw viewers into the themes of the film.”
     
     
    Empowering Creators with Cutting-Edge Display Technology
    Samsung continues to push the boundaries of display technology with The Wall, empowering creators in film and art. The Wall for Virtual Production (IVC model) is another prime example that enables companies and producers to innovate their productions. The ultra-large LED walls are created for virtual content, which seamlessly integrates real-time visual effects to reduce production time and costs.
     
    Samsung’s The Wall displays have been utilized by artists worldwide to bring their creative visions to life. For example, contemporary Korean art leader, the late Park Seo-Bo, showcased his masterpiece on The Wall All-in-One (IAB model) 146-inch 4K screen at New York’s Rockefeller Center.
     
    ▲ Park Seo-Bo’s “Écriture” series, digitally rendered on The Wall’s 146-inch 4K screen, at the “Origin, Emergence, Return” exhibition, Rockefeller Center, New York.
     
    Likewise, Dutch-American audiovisual artist 0010×0010 used The Wall All-in-One during an exhibition in Bangkok, Thailand, to explore the convergence of digital and physical worlds. These are just a few examples of how The Wall is helping to redefine the boundaries of modern art.
     
    Samsung Electronics’ participation at the 60th Venice Biennale is more than just a milestone in its support of the arts; it is a testament to the future of art and technology converging. By continuing to push the limits of display technology, Samsung opens new possibilities for creators across the globe, allowing them to tell their stories with unparalleled visual depth and clarity.

    MIL OSI Economics –

  • MIL-OSI Economics: Media Release: Net zero goals a step closer with Moomba CCS project milestone – Australian Energy Producers

    Source: Australian Petroleum Production & Exploration Association

    Headline: Media Release: Net zero goals a step closer with Moomba CCS project milestone – Australian Energy Producers

    First injection and full ramp up at the Moomba carbon capture and storage (CCS) project marks a major milestone for Australia’s rollout of this crucial net zero technology.

    Australian Energy Producers Chief Executive Samantha McCulloch said the Santos and Beach Energy Moomba joint venture demonstrates the Australian oil and gas sector is driving progress to net zero, deploying proven technologies to cut emissions today.

    “At Moomba, Santos has proven what the industry has long known – that CCS is real and it works. It’s a first for onshore in Australia,” she said.

    “Australia is now host to two of the largest CO2 storage projects in the world, with Moomba and Chevron’s Gorgon project storing emissions equivalent to taking one million cars off the road each year.”

    Around the world, there are more than 50 large-scale CCS projects in operation, with a further 550 under development.

    “This global momentum for CCS is essential for achieving climate goals, with the International Energy Agency, the Intergovernmental Panel on Climate Change and CSIRO all clear that there is no pathway to net zero without CCS,” Ms McCulloch said.

    “CCS is particularly important for manufacturing, because without it industries like fertiliser and chemical production, iron and steel, and cement, will find it harder and more expensive to reach net zero.”

    In Australia, between two and 20 Moomba-scale CCS projects need to be built each year between now and 2050 to reach net zero, according to the Net Zero Australia study. 

    “Australia has a comparative advantage in CCS, with world class geology, industry experience, and strong links with regional trading partners looking to collaborate on CCS,” Ms McCulloch said.

    “Scaling up CCS is an opportunity not just to reduce emissions but to create new jobs and attract new investment.”

    However, CCS continues to be kept on the sidelines of energy and climate policies in Australia.

    “Australia is increasingly out of step with the rest of the world in failing to provide meaningful policy support for this critical technology,” Ms McCulloch said.

    “If Australia is going to reach net zero, while managing cost of living pressures for Australian households and businesses, we need to take a technology-neutral, least-cost approach to emissions reductions, and this includes CCS.”

    MIL OSI Economics –

  • MIL-OSI Economics: Asian Development Bank and Kazakhstan: Fact Sheet

    Source: Asia Development Bank

    As of 31 December 2023, ADB has committed 131 public sector loans, grants, and technical assistance totaling $6 billion to Kazakhstan. ADB’s current sovereign portfolio in Kazakhstan includes 3 loans worth $452.2 million. In addition, ADB has committed $865 million nonsovereign financing for 38 transactions.

    Updated yearly, this ADB Fact Sheet provides concise information on ADB’s operations in the country and contact information.

    MIL OSI Economics –

  • MIL-OSI Economics: RBI to conduct Overnight Variable Rate Reverse Repo (VRRR) auction under LAF on October 17, 2024

    Source: Reserve Bank of India

    On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on October 17, 2024, Thursday, as under:

    Sl. No. Notified Amount
    (₹ crore)    		 Tenor
    (day)    		 Window Timing Date of Reversal
    1 75,000 1 12:00 Noon to 12:30 PM October 18, 2024
    (Friday)

    2. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1313

    MIL OSI Economics –

  • MIL-OSI Economics: Panasonic HD secures SBTi verification for 2050 Net-Zero Emissions Target

    Source: Panasonic

    Headline: Panasonic HD secures SBTi verification for 2050 Net-Zero Emissions Target

    Osaka, Japan, October 17, 2024 – Panasonic Holdings Corporation (Panasonic HD) announced today that the Science Based Targets initiative(*1), a global body driving ambitious corporate climate action, has verified the company’s greenhouse gas (GHG) 2050 reduction target as a “Net-Zero Science-Based Target.”
    The SBTi promotes science-based GHG reduction targets for companies, aiming to limit global temperature rise to 1.5°C above pre-industrial levels. Its certification standards for short-term (2030) so-called “1.5°C Targets” and long-term (2050) “Net-Zero Targets” have become the global benchmark for corporate climate goals aligned with the Paris Agreement.
    In May 2023, Panasonic HD received SBTi approval for its 1.5°C Target. Now, the company has secured verification from the body for its Net-Zero Target after submitting detailed plans to achieve net-zero emissions by 2050, in line with SBTi guidelines.
    Panasonic HD’s Net-Zero Target commits to reducing GHG emissions across the company’s entire value chain. This includes scope 1 emissions from the company’s own activities, as well as scopes 2 and 3 emissions, from indirect activities, by at least 90% by FY2050 compared to FY2019 levels. The company pledges to neutralize the remaining 10% through proprietary carbon removal technologies.
    SBTi verification validates that a company’s GHG reduction targets are appropriately set, enhancing stakeholder trust in its climate action efforts. Globally, 1,138 companies have received Net-Zero Target certification, including 52 in Japan(*2).
    Panasonic HD remains committed to achieving net-zero emissions across its value chain and contributing to GHG reductions in society, driving impact toward achieving a decarbonized world.

    MIL OSI Economics –

  • MIL-OSI Economics: Deputy Secretary-General of ASEAN for Community and Corporate Affairs meets European Commissioner for Crisis Management

    Source: ASEAN

    Deputy Secretary-General of ASEAN for Community and Corporate Affairs, H.E. Nararya Sanggramawijaya Soeprapto, held a meeting with the European Commissioner for Crisis Management, H.E. Janez Lenarčič, at the ASEAN Headquarters today. They discussed the ongoing and future collaboration between ASEAN and the European Union, especially in the disaster management and humanitarian assistance sector. 

    Prior to the the meeting, DSG Nararya Soeprapto witnessed signing of the Administrative Arrangement between the ASEAN Coordinating Centre for Humanitarian Assistance on disaster management (AHA Centre) and Directorate-General for European Civil Protection and Humanitarian Aid Operations (DG ECHO). The Administrative Arrangement aims to further promote cooperation in disaster management and emergency response. 

    The post Deputy Secretary-General of ASEAN for Community and Corporate Affairs meets European Commissioner for Crisis Management appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Economics: Underwriting Auction for sale of Government Securities for ₹33,000 crore on October 18, 2024

    Source: Reserve Bank of India

    Government of India has announced the sale (re-issue) of Government Securities, as detailed below, through auctions to be held on October 18, 2024.

    As per the extant scheme of underwriting notified on November 14, 2007, the amounts of Minimum Underwriting Commitment (MUC) and the minimum bidding commitment under Additional Competitive Underwriting (ACU) for the underwriting auction, applicable to each Primary Dealer (PD), are as under:

    (₹ crore)
    Security Notified Amount Minimum Underwriting Commitment (MUC) amount per PD Minimum bidding commitment per PD under ACU auction
    7.02% GS 2031 10,000 239 239
    7.23% GS 2039 13,000 310 310
    7.09% GS 2054 10,000 239 239

    The underwriting auction will be conducted through multiple price-based method on October 18, 2024 (Friday). PDs may submit their bids for ACU auction electronically through Core Banking Solution (E-Kuber) System between 09:00 A.M. and 09:30 A.M. on the day of underwriting auction.

    The underwriting commission will be credited to the current account of the respective PDs with RBI on the day of issue of securities.

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1315

    MIL OSI Economics –

  • MIL-OSI Economics: Result of the Overnight Variable Rate Reverse Repo (VRRR) auction held on October 17, 2024

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 75,000
    Total amount of offers received (in ₹ crore) 40,385
    Amount accepted (in ₹ crore) 40,385
    Cut off Rate (%) 6.49
    Weighted Average Rate (%) 6.49
    Partial Acceptance Percentage of offers received at cut off rate NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2024-2025/1316

    MIL OSI Economics –

  • MIL-OSI Economics: OEUK news Skills passport enabling people to find new jobs in offshore wind goes live in 2025 17 October 2024

    Source: Offshore Energy UK

    Headline: OEUK news

    Skills passport enabling people to find new jobs in offshore wind goes live in 2025

    17 October 2024

    Joint RenewableUK and OEUK media release – Thursday 17th October 2024

    A new scheme to help workers across the UK’s energy mix, including oil and gas, to find new roles in offshore wind will be launched in January by RenewableUK and Offshore Energies UK (OEUK), supported by the UK and Scottish Governments.

    The Energy Skills Passport enables workers and employers to easily identify which qualifications and training standards, such as health and safety, are needed for specific roles in offshore wind. As part of the Energy Skills Passport, an interactive tool will provide clarity on which qualifications are mutually recognised across the sector to avoid any duplication of training courses, as well as mapping out potential career pathways. It will be managed jointly by OEUK and RenewableUK and will be available to a limited number of testers later this year before it is rolled out in full in the new year. The initial version focuses on the transition to offshore wind and future versions will include other parts of the energy sector.

    The UK’s oil and gas sector supports over 200,000 jobs and the UK’s offshore wind industry already employs 32,000 people – that number is expected to rise to over 100,000 by 2030. Research commissioned by OEUK shows that 90% per cent of oil and gas industry workers have skills which can be transferred to future offshore jobs in renewable energy. Roles which may be suitable for workers to transfer into in offshore wind include maintenance technician, commissioning technician, high-voltage senior authorised person and troubleshooting technician.

    RenewableUK’s Executive Director of Offshore Wind Jane Cooper said:

    “The upsurge in offshore wind jobs over the course of this decade and beyond creates excellent opportunities for highly-skilled oil and gas workers to bring their valuable experience to the clean energy sector. We’re working closely with our colleagues at Offshore Energies UK, and the UK and Scottish Governments, to make that transition as smooth as possible across all parts of the energy industry. The Energy Skills Passport is a great example of what we can achieve together and we’ll continue to look for other potential areas of work that can further support the transition of workers between sectors.”

    Offshore Energies UK’s Director of Supply Chain & People, Katy Heidenreich said:

    “Collaboration is key to unlocking the full potential of the UK’s offshore energy sector so we are proud to be driving this initiative with RenewableUK. This industry and its people have proven excellence and a broad range of transferable skills from engineering and construction to legal and commercial expertise. This passport can help them succeed right across our diverse energy mix. This is one way the UK can back its workforce to build a homegrown energy transition that leaves no-one behind. It’s part of the toolkit this industry is assembling to partner with government to solve the challenges and seize the opportunities of our energy future.”

    The Co-Chair of the Offshore Wind Industry Council Richard Sandford said:

    “The Energy Skills Passport is a crucial step forward for workers to embrace opportunities in the offshore wind industry. It simplifies movement between essential offshore energy sectors, enabling workers to apply their knowledge to the energy transition. The milestone highlights effective collaboration between OEUK and RenewableUK, supported by the UK and Scottish Governments.”

    (ends)

    Notes

    For further information, contact

    1. RenewableUK’s members are building our future energy system, powered by clean electricity. We bring them together to deliver that future faster; a future which is better for industry, billpayers, and the environment. We support over 490 member companies to ensure increasing amounts of renewable electricity are deployed across the UK and to access export markets all over the world. Our members are business leaders, technology innovators, and expert thinkers from right across industry. RenewableUK’s events programme is available here.
    2. Offshore Energies UK is the leading trade body for the UK’s offshore energies industry. Its membership includes over 400 organisations with an interest in offshore oil, gas, carbon capture and storage, hydrogen, and offshore wind. Working together with its members, it is a driving force supporting the UK in ensuring security of energy supply while helping to meet its net zero ambitions.

    Share this article

    MIL OSI Economics –

  • MIL-OSI Economics: Development Asia: Enhancing Statistical Capabilities for Climate Action

    Source: Asia Development Bank

    Improving statistical capacity in various areas of climate change relies on collaboration among governments, international development and research organizations, academia, and the private sector to foster innovation and the exchange of knowledge.

    By pooling resources and expertise, new capacity building initiatives can drive the development of best practices in the compilation of climate change data and statistics, ensuring national statistics offices have the latest and most powerful statistical tools and methodologies at their disposal. Through these collaborative efforts, national statistics offices will be better positioned to contribute effectively to global climate action, bolstering efforts to mitigate and adapt to the impacts of a changing climate.

    ADB’s survey on the compilation of climate change statistics in Asia and the Pacific suggests that such collaboration is already underway among national statistics offices in member economies. Eighteen national statistics offices reported collaborating with other government agencies, sectors, or international organizations to address data gaps in statistics related to climate change. Other actions commonly taken by national statistics offices included use of administrative and big data and improvements to data infrastructure.

    Figure 4. Measures Taken by National Statistics Offices to Address Data Gaps on Climate Change

    NSO = national statistics office.
    Source: Asian Development Bank analysis using data from the bank’s 2024 Climate Change Data Granularity and Statistical Capacity Building Survey.

    Support provided by more advanced national statistics offices to their peers with fewer resources can also help build capacity and promote the exchange of best practices, ultimately contributing to the development of robust climate change statistics programs across Asia and the Pacific.

    The survey showed that six of the 29 national statistics offices respondents in Asia and the Pacific indicated that they had provided support related to climate change statistics to other economies, either directly (three of six) or through associated organizations (four of six). Feedback from the six economies that provided support states that the most common types of assistance were for capacity building and project proposals. Other types of support included short-term assistance, provision of experts, and support on acquisition of technological and/or digital infrastructure and equipment.

    MIL OSI Economics –

  • MIL-OSI Economics: Identity theft: BaFin warns consumers about the website fips-finance.com

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) has information that the company FIPS Finance & Development is providing financial services in Germany on its website fips-finance.com without the required authorisation. The company is not supervised by BaFin. Customers are incorrectly led to believe that the website is operated by an Austrian company that is registered in the Austrian company register. This is not the case. It is a case of identity fraud.

    Anyone wishing to conduct banking business or provide financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation.

    BaFin is issuing this information on the basis of section section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

  • MIL-OSI Economics: How AI is making eyesight-saving care more accessible in resource-constrained settings

    Source: Google

    Error 404 (Not Found)!!!</p> <p> <a href="https://blog.google/" rel="nofollow"><span id="logo" aria-label="Google"></span></a></p> <p><b>404.</b> <ins>That’s an error.</ins></p> <p>The requested URL <code>/around-the-globe/google-asia/how-ai-is-making-eyesight-saving-care-more-accessible-in-resource-constrained-settings/</code> was not found on this server.<br /><ins>That’s all we know.</ins></p> </p> <p>

    MIL OSI Economics –

  • MIL-OSI Economics: GIANTX Gaming and Samsung UK Unite for EGX Comic Con 2024

    Source: Samsung

     
    London, UK.  October 17, 2024 –  Today, GIANTX, is excited to announce its collaboration with electronics manufacturer Samsung, set to make a mark on the gaming world with a uniquely tasteful collaboration at the first ever EGX Comic Con event in October in London. This activation stands as a testament to the synergy between two brands, driven by their shared commitment to enhancing gamer experiences and shaping the future of interactive entertainment.
     
    Taglined as “ONE TAP”, the campaign encapsulates the spirit of the collaboration – the ease and efficiency of Samsung’s gaming experience delivered through Samsung Gaming Hub*, emphasising that everything a gamer needs is available at their fingertips. Coupled with referencing the term for a perfect shot in gaming – a single, precise move that hits the target.
     
    This dual meaning reinforces the idea that Samsung’s gaming platform offers both precision and ease, making it the ultimate destination for gamers seeking a seamless and high-quality experience.
     
    Samsung Gaming Hub is a game streaming service that has been built into all Samsung gaming TVs and monitors as standard since 2022[1]. It provides quick and easy access to more than 3,000 top gaming titles from Xbox[2] NVIDIA GeForce NOW and other popular streaming services. It’s all cloud based so there are no downloads, no storage limits, and no console or PC is required – simply stream and play.
     
    Plus there are added features in certain Samsung TV models such as AI Auto Game Mode that recognises the genre of the game you are playing and then adjusts the settings accordingly for the ultimate immersive gaming experience and ultra smooth motion.
     
    The booth will include:
    Multiple Samsung TV and mobile gaming stations
    Sonic themed space
    Play to win activities
    Prizes worth up to £3000
    Red Bull refreshments
     
    The brands will work together to showcase Samsung’s premium product lines across its Odyssey Gaming range of gaming monitors and its innovative NEO QLED  TV range that both have Samsung’s Gaming Hub built in, as well as a selection of the newest models across the brand’s mobile and tablet ranges.
     
    Luis Garcia, Commercial Director at GIANTX, expressed his excitement:
     
    “We are delighted to welcome Samsung to the GIANTX family. We look forward to activating together at EGX Comic Con 2024, bringing a unique experience to fans from the UK and beyond, showcasing the latest of Samsung technology to our captive audience of gaming and esports enthusiasts.”
     
    Zeena Hill, Director of Marketing for TV/AV at Samsung Electronics in the UK and Ireland, said: “We’re really excited to be collaborating with GIANTX to provide thousands of fans at EGX Comic Con and beyond in the multiple benefits of  our superior TV range. We know that gaming is a huge passion point for so many of our customers which is why Samsung’s Gaming Hub is made so easily accessible – all you need is a controller and away you go.
     
    “This collaboration with GIANTX will not only showcase the stunning clarity and gaming performance of our TV technology but also the ease in accessing thousands of top game titles without the need for a console.”
     
    The announcement brings Samsung UK into the GIANTX partnership line-up alongside other household names like HSBC UK and EE, with the brands aligning on the values of inspiring through technology while demonstrating commitment to the UK gaming scene. It demonstrates GIANTX’s commitment to delivering unforgettable experiences to an unrivalled global fan base and showcase excellence in associated commercial propositions.
     
    For more information, please visit GIANTX.
     
    [1] Internet connection, additional gaming service subscription and compatible controller required. Gaming Hub not available in Republic of Ireland.
    [2] Requires Xbox Game Pass Ultimate subscription. Internet connection and compatible controller required.

    MIL OSI Economics –

  • MIL-OSI Economics: U.S. Economic Footing Firmer Than Previously Thought, Projected to Expand 2.3 Percent in 2024

    Source: Fannie Mae

    WASHINGTON, DC – Following annual revisions to the national accounts and an improvement in payroll employment growth in both August and September, the economy now appears to be on firmer footing than previously thought, according to the October 2024 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. While the ESR Group still expects economic growth to slow from the robust 3.2 percent pace recorded in 2023, the degree of expected slowing is smaller; growth in 2024 and 2025 is now expected to be 2.3 percent and 2.0 percent, respectively, near the long-run trend growth rate. The improved economic outlook stems in large part from significant upward revisions to recent personal income data. Previously, the ESR Group expected consumption growth to retrench, as it had grown unsustainably relative to incomes, but revised data now show the relationship between income and consumption to be closer to historical levels. As such, the ESR Group believes the economy can maintain growth closer to its long-run potential through its forecast horizon, barring an unforeseen shock to consumer or business confidence from an adverse exogenous event.

    Following data revisions and recent employment data, bond market expectations for rate cuts have moved into closer alignment with the dot plot from the Federal Reserve’s latest Summary of Economic Projections. As a result, the 10-year Treasury is currently up more than 40 basis points from its mid-September low. This represents upside risk to the ESR Group’s latest mortgage rate forecast, which now sees the 30-year mortgage rate ending the year at 6.0 percent, down from last month’s 6.2 percent projection, and to decline steadily to 5.7 percent by the end of 2025. Meanwhile, the ESR Group expects annual home prices to grow 5.8 percent in 2024 and 3.6 percent in 2025, both slight adjustments to their previous forecasts of 6.1 percent and 3.0 percent, respectively. While the general low level of homes available for sale is expected to continue to exert upward pressure on prices, the ESR Group expects ongoing affordability constraints and rising inventories of homes available for sale to help moderate the magnitude of home price growth moving forward.

    “While potential homebuyers have noticed the decline in mortgage rates over the last few months, they are equally aware that there has been little relief on the home price side, the other primary driver of unaffordability, particularly for first-time buyers,” said Mark Palim, Fannie Mae Senior Vice President and Chief Economist. “The timing of the long-expected pick-up in home sales activity, as well as a further moderation in home price appreciation, will depend in part on the willingness of current homeowners to relinquish their low mortgage rates by offering their homes for sale. Of course, continued strong homebuilding activity will also play a significant role as the shortage of national housing stock remains the primary impediment to affordability.”

    Visit the Economic and Strategic Research site at fanniemae.com to read the full October 2024 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary. To receive e-mail updates with other housing market research from Fannie Mae’s Economic and Strategic Research Group, please click here.

    About the ESR Group
    Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets.

    Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

    MIL OSI Economics –

  • MIL-OSI Economics: RBI imposes monetary penalty on GoCapital Finance Limited, Chennai, Tamil Nadu

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹1.00 lakh (Rupees One Lakh only) on GoCapital Finance Limited, Chennai, Tamil Nadu (the company) for non-compliance with certain provisions of ‘Master Direction-Reserve Bank of India (Non-Banking Financial Company-Scale Based Regulation) Directions, 2023’, issued by RBI. This penalty has been imposed in exercise of powers vested in RBI, conferred under the provisions of clause (b) of sub-section (1) of section 58G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934.

    The correspondence of the company pertaining to the intimation of appointment of additional director revealed, inter alia, non-compliance with RBI directions on change in management of Non-Banking Financial Company. Based on the findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the said directions. After considering the company’s reply to the notice and oral submissions made by it during the personal hearing, RBI found, inter alia that the following charge against the company was sustained, warranting imposition of monetary penalty.

    The company failed to take prior written permission of the RBI for effecting change in management resulting in change of more than 30 per cent of its directors, excluding independent directors.

    This action is based on deficiency in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the company.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1326

    MIL OSI Economics –

  • MIL-OSI Economics: RBI imposes monetary penalty on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated October 07, 2024, imposed a monetary penalty of ₹2.50 lakh (Rupees Two Lakh Fifty Thousand only) on Jila Sahakari Kendriya Bank Maryadit, Mandsaur, Madhya Pradesh (the bank), for contravention of the provisions of section 26A read with section 56 of the Banking Regulation Act, 1949 (BR Act). This penalty has been imposed in exercise of powers vested in RBI, conferred under section 47A(1)(c) read with section 46(4)(i) and section 56 of the BR Act.

    The statutory inspection of the bank was conducted by the National Bank for Agriculture and Rural Development (NABARD) with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with statutory provisions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said provisions.

    After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty.

    The bank had failed to transfer eligible unclaimed deposit amounts to the Depositor Education and Awareness Fund within the prescribed period.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/1327

    MIL OSI Economics –